Appropriating $250,000 Federal Asistance Gratn Fund General Revenue Stanley Coveleski Baseball Stadium

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.................„, CITY of SOUTH :END ®, $4? T B�'�{44 ROGER O. PARENT, Mayor 417 ,®:o CJs, d �\\� g COUNTY-CITY BUILDING SOUTH BEND, INDIANA 46601 �Y r ®®00% ":;1865j-Ar Michael L. Vance 219/284-9742 Director, Administration and Finance July 1, 1985 Mrs. Beverlie Beck, President South Bend Common Council 4th Floor Council Chambers South Bend, IN 46601 Dear President Beck: The two (2) enclosed ordinances are being filed for first reading of the July 8 , 1985 Council Meeting. I am writing one (1) letter of explanation to cover both since they are similar in nature and pertain to the Stanley Coveleski Regional Stadium Project. As you are aware the City of South Bend has laid out a funding proposal for the building of the stadium. That proposal includes a park bond issue, the use of Economic or Redevelopment monies, and revenues obtained through a private fund drive. In moving forward with the project there are costs that will be incurred prior to the selling of any bonds or the collection of any substantial amounts through the private fund or donation drive. Those costs are related to property appraisal and acquisition costs, site demolition and general site work including parking and utilities, miscellaneous expense related to design, lease negotiations and promotional activities, and detailed architectural and engineering drawings and cost estimate. The City proposes to fund the expenses associated with property appraisal, acquisition, demolition and general site work through the ordinance transferring $250, 000 within the Community Development budget. The City further proposes to address the costs associated with architectural fees, engineering fees, possible construction contingency costs, necessary equipment, and the miscellaneous expenses related to lease negotiation and promotion activities through the enclosed ordinance which appropriates $250, 000 from federal revenue sharing. Cl